XRP Price Remains Steady After 1 Billion Token Release
Ripple released one billion XRP from its escrow accounts on October 1, but the price of XRP barely reacted, staying at $1.49. This move is part of a monthly release, where Ripple can dispose of a portion of the escrowed tokens. However, most of the released tokens are typically put back into new trust accounts, which affects the circulating supply.
The circulating supply of XRP is a topic of debate among data providers, with U.Today and CoinGecko reporting different figures. This discrepancy arises from the definition of circulating supply, with some providers deducting holdings that are not on the market. For investors, this means that market capitalization and related metrics carry an uncertainty of several percent.
The price of XRP still has a long way to go to reach its all-time high of $3.65, with around 59% missing before that value would be reached again. The quarterly comparison looks more favorable, with XRP trading at $1.05 at the end of June, resulting in a gain of about 41%.